Insider Buying: International Flavors & Fragrances (NYSE:IFF) Director Purchases 142,000 Shares of Stock

International Flavors & Fragrances Inc. (NYSE:IFF) Director Paul Fribourg purchased 142,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average price of $70.13 per share, for a total transaction of $9,958,460.00. Following the purchase, the director owned 2,422,730 shares in the company, valued at $169,906,054.90. This trade represents a 6.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

International Flavors & Fragrances Stock Performance

Shares of NYSE:IFF traded up $0.47 on Monday, hitting $70.08. The company had a trading volume of 1,409,455 shares, compared to its average volume of 1,822,709. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of -51.15, a P/E/G ratio of 1.82 and a beta of 0.99. The stock has a 50 day moving average price of $74.52 and a 200 day moving average price of $68.19. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $84.45. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). International Flavors & Fragrances had a positive return on equity of 7.67% and a negative net margin of 3.20%.The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, March 20th. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -116.79%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company upped their price objective on International Flavors & Fragrances from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Argus boosted their target price on shares of International Flavors & Fragrances from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Wall Street Zen raised shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Sunday, January 4th. BNP Paribas Exane dropped their price objective on shares of International Flavors & Fragrances from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Finally, Oppenheimer raised shares of International Flavors & Fragrances from a “market perform” rating to an “outperform” rating and set a $97.00 price objective for the company in a report on Friday, February 13th. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and an average target price of $90.09.

Institutional Trading of International Flavors & Fragrances

Large investors have recently modified their holdings of the stock. Corient Private Wealth LLC lifted its position in International Flavors & Fragrances by 7.1% during the fourth quarter. Corient Private Wealth LLC now owns 72,021 shares of the specialty chemicals company’s stock worth $4,855,000 after purchasing an additional 4,787 shares during the period. Hsbc Holdings PLC increased its holdings in International Flavors & Fragrances by 0.7% in the 4th quarter. Hsbc Holdings PLC now owns 454,157 shares of the specialty chemicals company’s stock valued at $30,633,000 after buying an additional 2,999 shares during the period. River Road Asset Management LLC acquired a new position in shares of International Flavors & Fragrances in the 4th quarter valued at approximately $65,334,000. Pacer Advisors Inc. lifted its holdings in shares of International Flavors & Fragrances by 7.6% during the 4th quarter. Pacer Advisors Inc. now owns 21,984 shares of the specialty chemicals company’s stock worth $1,482,000 after acquiring an additional 1,544 shares during the period. Finally, Kera Capital Partners Inc. acquired a new stake in shares of International Flavors & Fragrances during the 4th quarter worth approximately $553,000. 96.02% of the stock is owned by institutional investors and hedge funds.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.